Agenda item

Report of the BHE & Charities Finance Director.

The Committee received a report of City Bridge Foundation & Charities Finance Director concerning various matters relating to the audit of the annual report and financial statements of CBF for the year ended 31 March 2024.

The following points were noted:

·        The Committee holds an advisory role in relation to the Statement Foundation vote on other matters.

• Planning discussions took place between City Bridge Foundation officers and Crowe, starting last week.
• The charity has a hard deadline of submitting its final accounts to the Charity Commission on 31st January 2025.
• Crowe representatives provided insights into the audit planning reports, highlighting no significant changes in accounting standards or auditing standards.
• The importance of maintaining independence and the need for adequate resourcing for the audit were emphasised.
• The fee increases for certain entities were explained as a result of both the complexity of the audits and the need for better resourcing.